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H.4.1 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release July 30, 1959 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The average of daily figures of member bank reserves for the week ended July 29 decreased $274 million to $.18,702 million. Estimated required reserves decreased $124 million; and estimated excess reserves decreased $150 million to $4l4 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $476 million, compared with $348 million the week before. The principal changes reducing average reserves were decreases of $301 million in Federal Reserve float and $33 million in gold stock, and an increase of m>99 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $153 million in money in circulation and $46 million in "other" F. R. accounts (net). Total Reserve Bank credit decreased $331 million. As of Wednesday, July 29, U. S. Government securities held under repurchase agreement were $38 million lower than a week earlier and member bank borrowings were $54 million lower. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U. S. Government securities-Bought outright--System account Held under repurchase agreement Acceptances-Bought outright Held under repurchase agreement Loans, discounts, and advances-Member bank borrowings Other Float Total Reserve Bank credit Gold stock Treasury currency outstanding Averages of daily figures Week ended Change from week ended Wednesday, July 22, July 30, July 29, July 29, 1959 1 1958 1959 1959 (In millions of dollars) 26, 408 51 27 -- + 18 - 8 +1,373 + 51 26,408 51 11 25 - 1 -- 890 -998 28,374 19,636 5, 291 % 4" 53,3Q0r - 22 - 17 -301 -331 - 33 + I -362 + 175 +2,369 -1,616 + 85 + 839 745 27,860 19,636 5,29I "* 3 52,788- 1 Money in circulation Treasury cash holdings Treasury deposits with F. R. Banks Foreign deposits with F. R. Banks Other deposits with F. R. Banks Other F. R. accounts (net) 31,899%) 403 559 271 340 1,137 3%T599"-3- -153 - 9 + 99 + 16 + 6 - 46 - 89 8o4 294 + 16 29 + 7 4- 96 + 599 31, 8.56"+'i 402 630 281 337 1,137 34,6L3 16? Member bank reserves-Required reserves (estimated) Excess reserves (estimated) * Less than $500,000. 18,702 -274 -124 -150 + + 4l4 + 782 631 * + - - - 240 464 224 «• — 18,145 18,267 -122 On July 29, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $4,126 million, an increase of $31 million for the week and an increase of $969 million from the comparable dateforaFRASER year ago. Digitized H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since July 22, July 30, 1958 1959 July 29, 1959 A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves F. R. notes of other Banks Other cash Discounts and advances Industrial loans Acceptances--bought outright U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities 18,4o6, l4l 936,862 19,343,003 387,985 392,324 631,370 + 3 -1,352,751 + 74,700 -1,276,051 + 12,098 + 16,737 + 504,950 342 8,796 38,000 38,000 + 401,340 -1,296,379 +2,857,565 - 470,836 +1,491,690 + 51,000 +1,542,690 - 108,941 +2,038,502 - 697,773 + 4,997 2,437 2,560 19,993 6,009 70,944 - + + + - -- «»•» 25,397 2,406,900 18,649,726 2,867,565 2,483,771 26,407,962 51,000 26,458,962 Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 27,115,729 15 5,020,4-30 96,199 240,961 52,596,646 L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer--general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES —m mm - - - - 103 + 391,844 6,520 - 764,100 1ft 155 29,380 +1,158,270 27,454,488 - 64,322 + 18,l44,921 629,507 + + 490,188 178,948 17,444 - 295,474 373,471 + + - 733,149 +1,104,532 + 94 281,150 336,866 19,392,W 4,275,789 36,018 51,158,739 C A P I T A L A C C O U N T S Capital-paid In" Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS + 380,820 868,410 188,677 52,596,646 + + - 1,678 118 31,045 764,100 700,248 66,138 68,270 + 6,i4o 4, o4o 32 384,120 20,132 26,061 1A 31,669 3,992 +1,158,270 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 4l.3$ 3-4# Contingent liability on acceptances purchased for foreign correspondents 74,621 1,594 33,784 Industrial loan commitments 355 631 1/ Net change after elimination of Sec. 13b surplus of $27,543,000 on Sept. 2, 1958. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 29, 1959 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Within 15 days 16 days to 90 days 91 days to 1 year Over 1 year to 5 years Over 5 years to 10 years Over 10 years Total Discounts and advances 621,421 9,713 236 Industrial loans Acceptances 77545" 18,151 U. S. Government securities 0,631,323 1,174,710 11,301,593 3,881,179 410,385 631,370 25,397 1,059,772 26,458,962 H.4.1(b) Total A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves STATEMENT OF CONDITION OF EACH FEDERAL RESERVE B A M ON JULY 29, 1959 PhilaCleveSt. Boston New York Richmond Atlanta Chicago delphia land Louis (In thousands of dollars) 18,4o6, l4l 879,423 4,772,806 1074,790 1786,082 1059,505 193,61)8 871,565 3247,029 Minneapolis Kansas City Dallas 691,508 395,566 664,733 661,181 2301,953 42,964 23,528 44,153 San Franciscc 936,862 56,166 19,343,003 935,589 F.R. notes of other Banks Other cash 387,985 392,324 34,330 25,873 71,859 73,037 31,393 22,284 14,348 34,496 32,095 26,075 56,865 36,577 31,852 58,242 13,321 27,498 20,789 9,809 22,565 14,518 18,036 14,551 40,532 49,364 Discounts and advances Industrial loans Acceptances— Bought outright U. S. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 631,370 23,075 68,985 15,595 21,138 40,385 85,995 137,343 26,300 42,679 80,065 22,760 67,050 -- 25,397 - - - - - - 25,397 60,865 84,542 79,702 4,966,454 1135,655 1870,624 1139,207 " 58,036 176,775 929,601 3423,804 734,472 - - 2,406,900 130,490 605,701 137,256 208,385 154,253 126,853 4l6,520 18,649,726 1011,095 4,693,241 1063,519 1614,656 1195,224 982,915 3227,372 2,867,565 155,465 721,628 163,526 248,268 183,777 151,132 496,238 2,483,771 134,6.58 625,046 141,639 215,040 159,180 130,905 429,821 26,407,962 1431,708 6,645,616 1505,940 2286,349 1692,434 1391,805 4569,951 51,000 419,094 708,886 - - 29,789 86,694 690,970 2388,647 54,821 103,749 97,889 96,069 274,914 758,484 424,785 803,897 744,385 2130,153 116,624 65,315 123,606 114,456 327,530 101,015 56,573 107,063 99,137 283.694 1074,012 601,494 1138,315 1054,047 3016,291 51,000 Total U. S. Govt, sees. 26,458,962 1431,708 6,696,616 1505,940 2286,349 1692,434 1391,805 4569,951 1074,012 601,494 1138.315 1054.047 3016.291 Total loans & securities 27,115,729 1454,783 6,790,998 1521,535 2307,487 1732,819 1477,800 4707,294 1100,312 644,173 1218,380 1076,807 3083,341 Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 15 5,020,430 96,199 240,961 1 1 / 4 355,444 923,884 4,463 10,143 13,047 59,219 1 304,539 4,122 13,338 1 457,437 9,371 21,005 1 2 412,088 804,336 9,676 13,229 13,618 40.956 1 2 / 1 1 1 212,4l4 139,058 234,844 227,705 554,761 6,965 5, l4l 4,701 9,130 12,294 9,828 5.450 11,154 9.8l4 28.199 52,596,646 2823,530 12,895,598 3032,867 4714,769 3346,414 2936,226 9079,715 2104,811 1243,514 2215,049 2047,014 6157,139 1/ After deducting $11,000 participations of other Federal Reserve Banks. 2/ Less than $500. 1 393,920 6,964 15,333 E.4.1(c) Total L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U.S.Treas.-gen.acct. Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 29, 1959 Fhila CleveSt. Boston New York Richmond Atlanta Chicago delphia land Louis (In thousands of dollars) Minneapolis Kansas City Dallas San Francisco 27,454,488 1594,395 6,377,139 1744,837 2537,344 2062,905 1491,838 5235,525 1199,753 611,156 1102,708 783,399 2713,489 18,144,921 759,391 4,918,346 874,812 1569,449 789,760 951,678 2832,531 625,727 431,426 800,398 929,950 2661,453 88,204 38,419 51,502 72,734 43,874 63,912 39,966 33,627 46,062 40,023 66,173 629,507 45,011 281,150 15,125 1/83,150 18,150 24,750 13,750 12,925 40,700 10,175 6,600 10,725 14,300 30,800 336,866 643 285,185 1,432 ^ PI o ^ 1 P 1 509 1.050 912 40.825 385 534 19,392,444 820,170 5,374,885 932,813 1646,698 879,345 1009,770 2937,528 676,402 472,162 858,235 985,185 2799,251 4,275,789 326,084 742,349 258,428 397,854 327,388 363,321 687,712 171,696 123,732 194,732 202,954 479,539 36,018 2,056 8,963 1,815 3,j>56 2,110 1.828 5.782 1.400 1,149 1,567 1.682 4.110 51,158,739 2742,705 12,503,336 2937; 893 11.585,^52 3271,748 2866,757 8866,5^7 201*9,251 1208,199 2157^2^2 1973*220 5996^389 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Conting. liab. on acceptances purchased for foreign correspondents Industrial loan commit. 380,820 868,410 188.677 52,596,646 74,621 255. 18,858 50,116 11,851 109,733 238,902 43,627 22,751 59,607 12,616 35,966 76,643 16.708 17,094 44,846 12.726 19,632 52,125 39,474 132,159 10.363 28.884 12,717 33,746 9.097 8,669 20,785 5.861 15,560 32,935 9.112 21,905 43,436 8.45% 45,810 95,761 1Q.17Q 2823,530 12,895,598 3032.867 4714,769 3346.414 2936.226 9079.715 2104.811 1243.514 2215.049 2047.0l4 6157. H Q 4,103 2/20,909 4,924 6,714 15- 3,730 3,506 11,04l 2,760 1,791 2,909 340 3,879 8,355 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 28,439,60311655,287 Collat. for F. R. notes: Gold certificate acct. 10,750,000 580,000 Eligible paper 121,960 U. S. Govt, securities 18.810.000 1150,000 Total collateral 6,602,194 1802,706 2590,239 2138,225 1564,275 5355,220 1258,482 627,735 1137,880 834,629 2872,731 2,920,000 640,000 15,595 920,000 -- 670,000 — 500,000 2000,000 — — 430,000 26,300 4.000.000 1200.000 1750.000 1500.000 1100.000 1500.000 915.000 200,000 300,000 290,000 1300,000 -80,065 450.000 850.000 --575.000 1800.000 . , . ,29,681,960 11730,000 6,920,000 1855,595 2670,000 2170,000 1600,000 5500,000 1391,300 650,000 1230,065 865,000 3100,000 1/ After deducting $190,000,000 participations of other Federal Reserve Ttanlfm J 2/ After deducting $53,712,000 participations of other Federal Reserve Banks.
@FedFRASER